JAKARTA, Aug. 14 (Xinhua) -- Indonesia plans to establish a Strategic Mineral and Commodities Exchange by early 2027, as part of efforts to strengthen the country's role in global commodity trade, President Prabowo Subianto said Friday.

During his speech on the 2027 Draft State Budget and Financial Note in Jakarta, Prabowo said that establishing the exchange would be the next phase of the government's ongoing single-gate export policy.

Indonesia is a major producer of various strategic commodities, including palm oil, nickel, tin, coal, coffee and rubber. Prabowo said the exchange would eventually bring together producers, farmers, exporters, buyers, and investors on a single, strictly regulated platform.

Prabowo said he views the establishment of the exchange, together with efforts to strengthen the capital market, as a crucial part of Indonesia's broader drive to enhance its strategic position in the global economy.